ONLY C NEEDED TO ANSWER

A loan of $60,000 is due 10 years from today. The borrower wants to make annual payments at the end of each year into a sinking fund that will earn compound interest at an annual rate of 10 percent. Required: a. What will the annual payments have to be? Note: Do not round intermediate calculations and round your final answer to the nearest whole dollar amount. b. Suppose the investor makes the payments monthly instead. How much would they need to pay each month? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. c. If payment was made by making monthly payments with monthly compounding then how less they will pay in a year? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. a. Annual payment b. Monthly payment c. Difference in annual payment $ 3,765 per year 292.90 per month per year